Updated: August 10, 2023
Strategy is researched approach to attaining a goal.
Similar things to strategy (that aren’t a strategy):
A plan - is just a list of steps or tasks.
A goal - I have a goal to be a trillionaire. Goals are just dreams.
What a strategy needs:
A goal - your dream
Obstacle analysis - An honest and thorough analysis of the obstacles
Approach - an overarching approach to handle and overcome said obstacles
A plan - actual actions and steps to reach the goal
Most strategies don’t consider obstacles, making them shortsighted and over-optimistic views of achieving a goal.
Building a Strategy
A strategy is a realistic approach to attaining a goal (in light of obstacles). Building a strategy takes a constant revision of the fundamental elements until there is a harmonious and achievable approach.
Keep revising your goal, approach, obstacles, and plan until your goals are desirable and achievable.
Heavily influenced by the best book on strategy: Good Strategy/Bad Strategy.